“When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the______________?

Civil Engineering Mcqs

“When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the______________?

(A)  Law of diminishing return

(B)  Law of supply

(C)  Law of demand

(D)  Law of supply and demand

Submitted By :Ali Uppal

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